Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are f… - Ludwig von Mises

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Permanent mass unemployment destroys the moral foundations of the social order. The young people, who, having finished their training for work, are forced to remain idle, are the ferment out of which the most radical political movements are formed. In their ranks the soldiers of the coming revolutions are recruited.

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About Ludwig von Mises

Ludwig Heinrich Edler von Mises (29 September 1881 – 10 October 1973) was an Austrian economist, philosopher, author and classical liberal who had a significant influence on the modern libertarian movement and the Austrian School of economics.

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Also Known As

Native Name: Ludwig Heinrich Edler von Mises
Alternative Names: Ludwig Heinrich Mises

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Additional quotes by Ludwig von Mises

Markets mean patrons, buyers, consumers. There is under capitalism one way to wealth: to serve the consumers better and cheaper than other people do. But in the shop and factory, the owner — or in the corporations, the representative of the shareholders, the president — is the boss. The mastership is merely apparent and conditional. He is subject to the supremacy of the consumer. The consumer is king — the real boss — and the manufacturer is done for if he does not outstrip his competitors in best serving the consumers. It was this great economic transformation that changed the face of the world.

Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things from the standpoint of economics. No one, who is not able to form an independent opinion about the admittedly difficult and highly technical problem of calculation in the socialist economy, should take sides in the question of socialism versus capitalism. No one should speak about interventionism who has not examined the economic consequences of interventionism. An end should be put to the common practice of discussing these problems from the standpoint of the prevailing errors, fallacies, and prejudices. It might be more entertaining to avoid the real issues and merely to use popular catchwords and emotional slogans. But politics is a serious matter. Those who do not want to think its problems through to the end should keep away from it.

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